adidas: Very Strong Start Into the Year
Group sales increase 22% on a currency-neutral basis.
The adidas Group recorded a very strong start into the year 2016. During the first quarter, Group revenues increased 22% on a currency-neutral basis, with accelerating momentum at both adidas and Reebok. In euro terms, Group revenues grew 17% to € 4.769 billion (2015: € 4.083), the highest quarterly revenue in the Group’s history.
From a brand perspective, currency-neutral adidas revenues grew 26%, driven by double-digit sales increases in the training, football and running categories as well as at adidas Originals and adidas neo. While adidas recorded growth in every geography, brand momentum was particularly strong in key regions such as North America, Greater China and Western Europe, where revenues were up 31%, 30% and 26%, respectively.
With currency-neutral Reebok sales increasing 6% versus the prior year, the brand recorded its 12th consecutive quarter of growth. The brand’s performance was supported by double-digit growth in Western Europe, Greater China, Latin America, Japan and MEEA. Revenues at TaylorMade-adidas Golf decreased 1% currency-neutral, as growth at the core brands TaylorMade and adidas Golf was more than offset by sales declines at Ashworth and Adams.
“Strong double-digit growth in key markets and key categories underlines the broad-based momentum and the strong desirability of our brands and products around the globe. I am particularly pleased with our strong development in North America. This shows that our focus on this important market is paying off. Our strong Q1 performance is the ideal platform for strong and sustainable top- and bottom-line improvements – in 2016 and beyond,” commented Herbert Hainer, adidas Group CEO.